John Deere 2010 Annual Report Download - page 51

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51
OPERATING SEGMENTS 2010 2009 2008
Interest expense
Agriculture and turf .................................... $ 165 $ 208 $ 198
Construction and forestry ........................... 21 19 34
Credit ........................................................ 670 925 1,009
Corporate .................................................. 184 163 184
Intercompany ............................................ (229) (273) (288)
Total ..................................................... $ 811 $ 1,042 $ 1,137
Depreciation* and amortization
expense
Agriculture and turf .................................... $ 470 $ 438 $ 403
Construction and forestry ........................... 79 78 81
Credit ........................................................ 366 357 347
Total ..................................................... $ 915 $ 873 $ 831
* Includes depreciation for equipment on operating leases.
Equity in income (loss) of
unconsolidated affi liates
Agriculture and turf .................................... $ 13 $ 14 $ 17
Construction and forestry ........................... (3) (21) 22
Credit ........................................................ 1 1 1
Total ..................................................... $ 11 $ (6) $ 40
Identifi able operating assets
Agriculture and turf .................................... $ 7,593 $ 6,526 $ 7,041
Construction and forestry ........................... 2,353 2,132 2,356
Credit ........................................................ 27,239 25,698 24,866
Other ........................................................ 268 266 259
Corporate* ................................................ 5,814 6,511 4,213
Total ..................................................... $ 43,267 $ 41,133 $ 38,735
* Corporate assets are primarily the Equipment Operations’ retirement benefi ts,
deferred income tax assets, marketable securities and cash and cash equivalents
as disclosed in Note 31, net of certain intercompany eliminations.
Capital additions
Agriculture and turf .................................... $ 729 $ 702 $ 680
Construction and forestry ........................... 73 95 108
Credit ........................................................ 1 359
Total ..................................................... $ 802 $ 798 $ 1,147
Investments in unconsolidated affi liates
Agriculture and turf .................................... $ 66 $ 57 $ 48
Construction and forestry ........................... 172 149 171
Credit ........................................................ 7 7 5
Total ..................................................... $ 245 $ 213 $ 224
The company views and has historically disclosed its
operations as consisting of two geographic areas, the U.S. and
Canada, and outside the U.S. and Canada, shown below in
millions of dollars. No individual foreign country’s net sales
and revenues were material for disclosure purposes.
GEOGRAPHIC AREAS 2010 2009 2008
Net sales and revenues
Unaffi liated customers:
U.S. and Canada:
Equipment Operations
net sales (88%)* ........................... $ 14,794 $ 13,022 $ 15,068
Financial Services revenues (82%)* ... 1,817 1,801 1,997
Total ............................................. 16,611 14,823 17,065
Outside U.S. and Canada:
Equipment Operations net sales ......... 8,779 7,734 10,735
Financial Services revenues ............... 257 227 273
Total ............................................. 9,036 7,961 11,008
Other revenues .......................................... 3 58 328 365
Total ......................................................... $ 26,005 $ 23,112 $ 28,438
* The percentages indicate the approximate proportion of each amount that relates to
the U.S. only and are based upon a three-year average for 2010, 2009 and 2008.
Operating profi t
U.S. and Canada:
Equipment Operations ....................... $ 2,302 $ 1,129 $ 1,831
Financial Services ............................. 400 156 418
Total ............................................. 2,702 1,285 2,249
Outside U.S. and Canada:
Equipment Operations ....................... 607 236 1,096
Financial Services ............................. 99 86 75
Total ............................................. 706 322 1,171
Total ......................................................... $ 3,408 $ 1,607 $ 3,420
Property and equipment
U.S. .......................................................... $ 2,035 $ 2,907 $ 2,831
Germany ................................................... 489 442 360
Other countries.......................................... 1,267 1,183 937
Total ................................................. $ 3,791 $ 4,532 $ 4,128